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Insertion of new sections - jurisdiction of Court to set aside mistaken exercise of fiduciary 4. 5. 6. 7. 8. Trusts (Amendment) Law, 2019 Law 4 of 2019 TRUSTS (AMENDMENT) LAW, 2019 (Law 4 of 2019) A LAW TO AMEND THE TRUSTS LAW (2018 REVISION) TO ENHANCE THE INHERENT JURISDICTION OF THE COURT IN RELATION TO TRUSTS; AND FOR INCIDENTAL AND CONNECTED PURPOSES ENACTED by the Legislature of the Cayman Islands.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Short title and commencement 1. (1) This Law may be cited as the Trusts (Amendment) Law, 2019. (2) This Law shall come into force on such date as may be appointed by Order made by the Cabinet.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 2 of the Trusts Law (2018 Revision) - definitions 2. The Trusts Law (2018 Revision), in this Law referred to as the \u201cprincipal Law\u201d, is amended in section 2 as follows \u2014 (a) by deleting the definition of \u201ctrust corporation\u201d and by substituting the following definition \u2014 \u201c \u201ctrust corporation\u201d means a body corporate licensed to conduct trust business, with or without restriction, under the Banks and Trust Companies Law (2018 Revision) or registered under that Law as a controlled subsidiary or a private trust company;\u201d and (Law 4 of 2019) I Assent, Martyn Roper Governor Date: 14th May, 2019 Trusts (Amendment) Law, 2019 Law 4 of 2019 (b) by inserting in the appropriate alphabetical sequence the following definition \u2014 \u201c \u201ctrust litigation\u201d means litigation invoking the inherent jurisdiction of the Court in relation to the administration of trusts;\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Insertion of new sections - jurisdiction of Court to set aside mistaken exercise of fiduciary power and to approve compromise 3. The principal Law is amended by inserting after section 64, the following sections \u2014 \u201cJurisdiction of Court to set aside mistaken exercise of fiduciary power 64A. (1) If the Court, in relation to the exercise of a fiduciary power, is satisfied by a person specified in subsection (5) that the conditions set out in subsection (2) have been met, the Court may \u2014 (a) set aside the exercise of the power, either in whole or in part, and either unconditionally or on such terms and subject to such conditions as the Court may think fit; and (b) make such order, consequent upon the setting aside of the exercise of the power, as it thinks fit. (2) The conditions referred to in subsection (1) are that \u2014 (a) in the exercise of the power, the person who holds the power did not take into account one or more considerations (whether of fact, law or a combination of fact and law) that were relevant to the exercise of the power, or took into account one or more considerations that were irrelevant to the exercise of the power; and (b) but for his failure to take into account one or more such relevant considerations or his having taken into account one or more such irrelevant considerations, the person who holds the power \u2014 (i) would not have exercised the power; (ii) would have exercised the power, but on a different occasion to that on which it was exercised; or (iii) would have exercised the power, but in a different manner to that in which it was exercised. (3) If and to the extent that the exercise of the power is set aside under this section, to that extent the exercise of the power shall be treated as never having occurred. Trusts (Amendment) Law, 2019 Law 4 of 2019 (4) The conditions specified in subsection (2) may be satisfied without it being alleged or proved that in the exercise of the power, the person who holds the power, or any advisor to such person, acted in breach of trust or in breach of duty. (5) An application to the Court under this section may be made by \u2014 (a) the person who holds the power; (b) where the power is conferred in respect of a trust or trust property, by any trustee of that trust, or by any person beneficially interested under that trust, or (in the case of a purpose trust) the enforcer; (c) where the power is conferred in respect of a charitable trust or otherwise for a charitable purpose, the Attorney General; or (d) with the leave of the Court, any other person. (6) No order may be made under subsection (1) which would prejudice a bona fide purchaser for value of any trust property without notice of the matters which allow the Court to set aside the exercise of a power over or in relation thereto. (7) In this section \u2014 \u201cfiduciary power\u201d means any power that, when exercised, must be exercised for the benefit of or taking into account the interests of at least one person other than the person holding the power; \u201cpower\u201d includes a discretion as to how an obligation is performed; and \u201cperson holding the power\u201d includes any person, whether or not the trustee of a trust, on whom a power has been conferred, whether or not that power is exercisable by that person alone, and any person to whom the exercise of a power has been delegated. Jurisdiction of Court to approve compromise 64B. Where a compromise of trust litigation is proposed and the approval of the Court is required on behalf of any beneficiary, whether a party to the litigation or represented by a party to the litigation, the Court shall be entitled to approve the compromise if it is satisfied that the compromise is not to the detriment of such beneficiary notwithstanding that the Court is not satisfied that it is for his benefit.\u201d. Trusts (Amendment) Law, 2019 Law 4 of 2019\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of section 72 - jurisdiction of Court to vary trusts 4. The principal Law is amended in section 72(1) by deleting the words \u201cthe carrying out thereof would be for the benefit of that person\u201d as they appear in the proviso and substituting the words \u201cthe carrying out thereof would not be to the detriment of that person\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Amendment of section 91 - exclusion of foreign law 5. The principal Law is amended in section 91(b) by inserting after the words \u201ca personal relationship to the settlor\u201d the words \u201cor any beneficiary (whether discretionary or otherwise)\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Amendment of section 105 - trust corporation 6. The principal Law is amended in section 105 by repealing subsection (2).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Insertion of new section - rules 7. 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AND FOR\nINCIDENTAL AND CONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title and commencement\n1.\n(1) This Law may be cited as the Trusts (Amendment) Law, 2019.\n(2) This Law shall come into force on such date as may be appointed by Order\nmade by the Cabinet.\n2.\nAmendment of section 2 of the Trusts Law (2018 Revision) - definitions\n2.\nThe Trusts Law (2018 Revision), in this Law referred to as the \u201cprincipal Law\u201d, is\namended in section 2 as follows \u2014\n(a)\nby deleting the definition of \u201ctrust corporation\u201d and by substituting the\nfollowing definition \u2014\n\u201c \u201ctrust corporation\u201d means a body corporate licensed to conduct\ntrust business, with or without restriction, under the Banks and\nTrust Companies Law (2018 Revision) or registered under that Law\nas a controlled subsidiary or a private trust company;\u201d and\n(Law 4 of 2019)\nI Assent,\nMartyn Roper\nGovernor\nDate: 14th May, 2019\n\nSection 3\nTrusts (Amendment) Law, 2019\n\nPage 6\nLaw 4 of 2019\nc\n\n(b) by inserting in the appropriate alphabetical sequence the following\ndefinition \u2014\n\u201c \u201ctrust litigation\u201d means litigation invoking the inherent jurisdiction of the\nCourt in relation to the administration of trusts;\u201d.\n3.\nInsertion of new sections - jurisdiction of Court to set aside mistaken\nexercise of fiduciary power and to approve compromise\n3.\nThe principal Law is amended by inserting after section 64, the following\nsections \u2014\n\u201cJurisdiction of Court to set aside mistaken exercise of fiduciary\npower\n64A. (1) If the Court, in relation to the exercise of a fiduciary power, is\nsatisfied by a person specified in subsection (5) that the conditions\nset out in subsection (2) have been met, the Court may \u2014\n(a)\nset aside the exercise of the power, either in whole or in part,\nand either unconditionally or on such terms and subject to\nsuch conditions as the Court may think fit; and\n(b) make such order, consequent upon the setting aside of the\nexercise of the power, as it thinks fit.\n(2) The conditions referred to in subsection (1) are that \u2014\n(a)\nin the exercise of the power, the person who holds the power\ndid not take into account one or more considerations (whether\nof fact, law or a combination of fact and law) that were\nrelevant to the exercise of the power, or took into account one\nor more considerations that were irrelevant to the exercise of\nthe power; and\n(b) but for his failure to take into account one or more such\nrelevant considerations or his having taken into account one or\nmore such irrelevant considerations, the person who holds the\npower \u2014\n(i)\nwould not have exercised the power;\n(ii) would have exercised the power, but on a different\noccasion to that on which it was exercised; or\n(iii) would have exercised the power, but in a different\nmanner to that in which it was exercised.\n(3) If and to the extent that the exercise of the power is set aside under\nthis section, to that extent the exercise of the power shall be treated\nas never having occurred.\n\nTrusts (Amendment) Law, 2019\nSection 3\n\nc\nLaw 4 of 2019\nPage 7\n\n(4) The conditions specified in subsection (2) may be satisfied without\nit being alleged or proved that in the exercise of the power, the\nperson who holds the power, or any advisor to such person, acted in\nbreach of trust or in breach of duty.\n(5) An application to the Court under this section may be made by \u2014\n(a)\nthe person who holds the power;\n(b) where the power is conferred in respect of a trust or trust\nproperty, by any trustee of that trust, or by any person\nbeneficially interested under that trust, or (in the case of a\npurpose trust) the enforcer;\n(c)\nwhere the power is conferred in respect of a charitable trust or\notherwise for a charitable purpose, the Attorney General; or\n(d) with the leave of the Court, any other person.\n(6) No order may be made under subsection (1) which would prejudice\na bona fide purchaser for value of any trust property without notice\nof the matters which allow the Court to set aside the exercise of a\npower over or in relation thereto.\n(7) In this section \u2014\n\n\u201cfiduciary power\u201d means any power that, when exercised,\nmust be exercised for the benefit of or taking into account the\ninterests of at least one person other than the person holding\nthe power;\n\n\u201cpower\u201d includes a discretion as to how an obligation is\nperformed; and\n\n\u201cperson holding the power\u201d includes any person, whether or\nnot the trustee of a trust, on whom a power has been\nconferred, whether or not that power is exercisable by that\nperson alone, and any person to whom the exercise of a power\nhas been delegated.\n\nJurisdiction of Court to approve compromise\n64B. Where a compromise of trust litigation is proposed and the approval of\nthe Court is required on behalf of any beneficiary, whether a party to the\nlitigation or represented by a party to the litigation, the Court shall be\nentitled to approve the compromise if it is satisfied that the compromise\nis not to the detriment of such beneficiary notwithstanding that the Court\nis not satisfied that it is for his benefit.\u201d.\n\nSection 4\nTrusts (Amendment) Law, 2019\n\nPage 8\nLaw 4 of 2019\nc\n\n4.\nAmendment of section 72 - jurisdiction of Court to vary trusts\n4.\nThe principal Law is amended in section 72(1) by deleting the words \u201cthe carrying\nout thereof would be for the benefit of that person\u201d as they appear in the proviso and\nsubstituting the words \u201cthe carrying out thereof would not be to the detriment of that\nperson\u201d.\n5.\nAmendment of section 91 - exclusion of foreign law\n5.\nThe principal Law is amended in section 91(b) by inserting after the words \u201ca\npersonal relationship to the settlor\u201d the words \u201cor any beneficiary (whether\ndiscretionary or otherwise)\u201d.\n6.\nAmendment of section 105 - trust corporation\n6.\nThe principal Law is amended in section 105 by repealing subsection (2).\n7.\nInsertion of new section - rules\n7.\nThe principal Law is amended by inserting after section 111, the following section \u2013\n\u201cRules\n111A.\nThe Court may make rules in order to give effect to the provisions\nof this Law.\u201d.\n\nTrusts (Amendment) Law, 2019\nSection 8\n\nc\nLaw 4 of 2019\nPage 9\n\n8.\nAmendment\nof\nsection\n113\n-\ntransitional\nprovisions\nfor\nTrusts\n(Amendment) Law, 2016\n8.\nThe principal Law is amended in section 113 by repealing subsection (4).\nPassed by the Legislative Assembly the 10th day of April, 2019.\n\nHon. 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McKeeva Bush\nSpeaker\nZena Merren-Chin\nClerk of the Legislative Assembly\nSpeaker","akn_extracted_at":"2026-06-22 15:41:39.796656+00","cms_id":"2019-0004","law_type":"amending","year":"2019","number":"4","title":"Immigration (Transition) (Temporary Work Permits and Business Visitors\u2019 Permits) Regulations","status":"in_force"},"provenance":{"files":[{"file_id":"6316","expr_id":"1475","kind":"akn_xml","filename":"2019-0004.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2019\/2019-0004\/2019-0004.akn.xml","content_md5":"2ea719e7614fdfa525954c3dab3374b4","byte_size":"10280","http_last_modified":null,"fetched_at":"2026-06-22 15:41:39.928917+00"},{"file_id":"2949","expr_id":"1475","kind":"pristine_pdf","filename":"2019-0004.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2019\/2019-0004\/2019-0004.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2019\/2019-0004\/2019-0004.pdf","content_md5":"137fd65eedc82fb40fe6542ffb7dace0","byte_size":"657074","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.795536+00"},{"file_id":"2950","expr_id":"1475","kind":"working_pdf","filename":"2019-0004.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2019\/2019-0004\/2019-0004.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2019\/2019-0004\/2019-0004.pdf","content_md5":"137fd65eedc82fb40fe6542ffb7dace0","byte_size":"657074","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.795536+00"}],"paragraph_count":11,"latest_history":null},"quality":{"expr_id":"1475","doc_id":"1475","quality_state":"known_issue","quality_score":"55","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise,title_mismatch}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_commencement_metadata,verify_title_metadata}","finding_severity_counts":"{\"low\": 2, \"high\": 1, \"medium\": 1}","finding_summary":"stored title is not visible in the opening extracted text; repeated line furniture detected: cayman islands x3; trusts amendment law 2019 x9; law 4 of 2019 x11","assessed_at":"2026-06-22 15:29:46.431938+00","updated_at":"2026-06-22 15:29:46.431938+00"}}